Foxconn aims to double India investment, jobs in one year

Foxconn aims to double India investment, jobs in one year

Several billions of dollars in investment is only beginning, says founder.

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Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.

Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.

V Lee, Foxconn's representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi's 73rd birthday, said the company was "aiming for another doubling of employment, FDI (foreign direct investment), and business size in India" by this time next year.

He did not give more details.

Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people.

In August, the state of Karnataka said Foxconn would invest US$600 million (S$818 million) for two projects in the state to make casing components for iPhones and chip-making equipment.

The company's Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: "Several billion dollars in investment is only a beginning".

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